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Forex Strategy Video: Should I Trade that EURUSD Weekend Break?

Forex Strategy Video: Should I Trade that EURUSD Weekend Break?

John Kicklighter, Chief Strategist

Talking Points:

• Technical breakouts heading into the weekend are not uncommon, but should we trade them?

• Aside from the technical move itself, we need to consider time frame and potential for follow through

• While EURUSD and NZDJPY bearish breaks were clear, momentum even during normal conditions is dubious

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There were four notable technical breaks heading into the closing hours of this past week from EURUSD, GBPUSD, AUDUSD and NZDJPY. Trade selection for enticing developments requires deeper analysis into the probabilities of follow through - and that conditionality is even more imperative when we are assessing setups that we would hold through the weekend. In today's Strategy Video, we look over each of these four pairs and establish which meet the standard for immediate trades, which don't and why.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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